iPhone offsets declining Mac sales

Apple has reported its financial results for the second quarter, with profits at $1.2bn

Apple has announced the financial results for its second quarter, ended March 28, with iPod and iPhone sales offsetting a three per cent decline in Mac sales.

The company saw revenue hit USD 8.16 billion, compared to USD 7.51 billion year-on-year, with a profit of USD 1.21 billion, compared to USD 1.05 billion. This translates to USD 1.33 per diluted share, compared to USD 1.16 for the same period the previous year.

Apple sold 2.22 million Mac computers during the quarter, down three per cent, at the same time more than 11 million iPods were sold, representing a growth of three per cent. Meanwhile, the iPhone sold 3.79 million units, a 123 per cent unit growth year-on-year.

"We are extremely pleased to report the best non-holiday quarter revenue and earnings in our history," said Peter Oppenheimer, Apple's CFO. "Apple's financial condition remains very robust, with almost USD 29 billion in cash and marketable securities on our balance sheet.

"Looking ahead to the third fiscal quarter of 2009, we expect revenue in the range of about USD 7.7 billion to USD 7.9 billion and we expect diluted earnings per share in the range of about USD 0.95 to USD 1.00."

Apple's stock is currently trading for USD 121.51, a drop in 0.21 per cent from the previous closing price.

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